For each item that follows, indicate which element of the financial statements it belongs to (a) Retained earnings (b) Sales Revenue (c) Acquired goodwill (d) Inventory (e) Depreciation (f) Loss on sale of equipment (g) Interest payable (h) Dividends (i) Issuance of common shares ...

a Equity residual interest of owners b Revenues ordinary ...

For each item that follows, indicate which element of the financial statements it belongs to: (a) Retained

Question:

For each item that follows, indicate which element of the it belongs to:
(a) Retained earnings
(b) Sales Revenue
(c) Acquired
(d) Inventory
(e) Depreciation
(f) Loss on sale of equipment
(g) Interest payable
(h) Dividends
(i) Issuance of common shares
Goodwill
Goodwill is an important concept and terminology in accounting which means good reputation. The word goodwill is used at various places in accounting but it is recognized only at the time of a business combination. There are generally two types of... Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...